If a Product Has Zero External Costs,then

question 293

Multiple Choice

If a product has zero external costs,then

• A) marginal social cost equals marginal private cost.
• B) marginal social cost is greater than marginal private cost.
• C) marginal social cost is less than marginal private cost.
• D) marginal social cost equals zero.
• E) We need more information to determine the relationship between marginal private cost and marginal social cost.

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Definitions:

Self-Selection

The process where individuals choose to participate in or withdraw from activities or opportunities based on their preferences, interests, or perceived skills.

Job Advertisements

Public or internal postings by employers seeking to fill positions, outlining the job responsibilities, required qualifications, and application process.

Realistic Job Previews

A technique used in the employee selection process that provides potential candidates with a true picture of what performing the job would be like to reduce turnover and ensure a good fit.

Timely Feedback

Prompt and relevant responses or evaluations provided soon after the occurrence of an action, intended to enhance understanding or performance.